Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 73.9% | 38% | 40.8% | 40.1% | 35.7% | 40.4% | 41.9% | 41.1% |
| EBITDA margin % | 13% | 13.4% | 11.3% | 10.6% | 9.2% | 16.5% | 17.9% | 11.7% |
| EBIT margin % | 10.1% | 10.3% | 7.3% | 7.2% | 6.8% | 13.9% | 15.2% | 8.3% |
| PAT margin % | 5.1% | 5.9% | 3.8% | 3.7% | 4.6% | 9% | 10.5% | 5.4% |
| Working capital | ||||||||
| Receivable days | 70 | — | 73 | 48 | 76 | 59 | 61 | 64 |
| Inventory days | 392 | — | 175 | 170 | 125 | 135 | 146 | 193 |
| Payable days | — | — | 121 | 74 | 106 | 96 | 81 | 102 |
| NWC days | — | — | 128 | 144 | 95 | 99 | 126 | 155 |
| Leverage | ||||||||
| Current ratio | — | — | 1.47 | 1.37 | 1.39 | 1.51 | 1.52 | 1.52 |
| Debt to EBITDA | 3.09 | — | 3.6 | 3.58 | 2.32 | 1.33 | 0.95 | 1.61 |
| Debt to equity | 0.62 | — | 0.49 | 0.56 | 0.4 | 0.39 | 0.26 | 0.22 |
| Interest coverage | 2.5 | 2.4 | 2.3 | 2.7 | 2.7 | 4.7 | 6.1 | 2.9 |
| Asset turnover | 0.74 | 1.66 | 0.62 | 0.76 | 0.95 | 0.96 | 0.94 | 0.75 |
| Return ratios | ||||||||
| Return on assets % | 3.8% | 9.7% | 2.4% | 2.8% | 4.4% | 8.6% | 9.9% | 4% |
| Return on capital employed % | 10.5% | — | 9.7% | 10.8% | 15% | 24.7% | 22.8% | 9.7% |
| Return on equity % | 7.9% | — | 4.6% | 5.4% | 8.7% | 15.8% | 15.7% | 6.2% |
Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.